Tufton Capital Management Decreases Stake in United Technologies Co. (UTX)

Tufton Capital Management cut its holdings in United Technologies Co. (NYSE:UTX) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 67,646 shares of the conglomerate’s stock after selling 252 shares during the period. United Technologies comprises approximately 1.8% of Tufton Capital Management’s holdings, making the stock its 23rd biggest position. Tufton Capital Management’s holdings in United Technologies were worth $7,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of UTX. Matthew Goff Investment Advisor LLC boosted its holdings in shares of United Technologies by 12,402.9% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,115,095 shares of the conglomerate’s stock valued at $32,913,000 after buying an additional 4,082,182 shares during the period. Vanguard Group Inc boosted its stake in United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after purchasing an additional 1,094,947 shares during the period. Vanguard Group Inc. boosted its stake in United Technologies by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 59,240,301 shares of the conglomerate’s stock valued at $8,282,386,000 after purchasing an additional 1,094,947 shares during the period. Renaissance Technologies LLC boosted its stake in United Technologies by 480.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,129,800 shares of the conglomerate’s stock valued at $157,957,000 after purchasing an additional 935,200 shares during the period. Finally, Third Point LLC boosted its stake in United Technologies by 10.5% during the 3rd quarter. Third Point LLC now owns 8,400,000 shares of the conglomerate’s stock valued at $1,174,404,000 after purchasing an additional 800,000 shares during the period. 83.48% of the stock is owned by institutional investors and hedge funds.

In other United Technologies news, EVP Michael R. Dumais sold 9,620 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $119.12, for a total transaction of $1,145,934.40. Following the sale, the executive vice president now directly owns 35,627 shares in the company, valued at approximately $4,243,888.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Bailey sold 862 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $121.71, for a total transaction of $104,914.02. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

A number of research analysts have issued reports on UTX shares. Bank of America set a $180.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. Jefferies Financial Group set a $148.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Tuesday, November 27th. Wolfe Research set a $147.00 target price on shares of United Technologies and gave the company a “buy” rating in a research note on Monday, November 26th. ValuEngine raised shares of United Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 23rd. Finally, Goldman Sachs Group reissued a “buy” rating and set a $149.00 target price on shares of United Technologies in a research note on Wednesday, January 23rd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $144.85.

Shares of UTX stock traded down $0.18 during midday trading on Monday, reaching $122.31. 23,123 shares of the company were exchanged, compared to its average volume of 5,423,137. United Technologies Co. has a 12 month low of $100.48 and a 12 month high of $144.15. The company has a market capitalization of $105.56 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01.

United Technologies (NYSE:UTX) last released its quarterly earnings results on Wednesday, January 23rd. The conglomerate reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.42. United Technologies had a net margin of 7.92% and a return on equity of 17.53%. The company had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $16.87 billion. During the same period in the previous year, the firm earned $1.60 EPS. United Technologies’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that United Technologies Co. will post 7.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 10th. Shareholders of record on Friday, February 15th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.40%. United Technologies’s dividend payout ratio (DPR) is 38.63%.

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United Technologies Company Profile

United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.

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Institutional Ownership by Quarter for United Technologies (NYSE:UTX)

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